Attracting and retaining talent to meet your goals: Structuring your approach for growth

Financial Advisory

25 June 2019

Advisory DistributorsFinancial AdvisoryFinancial servicesParaplanningRumuneration


  1. Majority of firms undertake annual staff surveys and some do 360 reviews
  2. Retaining paraplanners is hard as when they get better qualified, they often move on so a career path is key to keeping them
  3. On average most firms recognised the 29-33% figure representing adviser REM
  4. Smaller firms need to be more adaptable regarding pay etc to compete

Key Challenges:

  • Clarity on roles is key and regular reviews are essential to assist in retaining good staff. Millennials often need more regular reviews
  • Attracting younger people into the profession is very important and firms need to work hard to make the jobs/career opportunities look exciting
  • Remuneration structures varied a lot in the room and whatever the structure a firm has it must fit the culture of the firm and help drive the right outcomes
  • Different models of servicing clients with advisers and para planners compared to advisers are emerging (in the USA) in the UK


  • Look at other organisations to see what changes you can make to make your roles exciting
  • Paraplanners are definitely the in demand people at the moment and retaining them is difficult for many firms
  • Clarity on roles, regular meetings/feedback and flexible career opportunities are key in today’s market place.


Expert: Steven Greenfield and Martyn Chapel, Dimensional Fund Advisors Ltd